Iran's President Mahmoud Ahmadinejad has again vowed that his country will not yield to Western pressure and stop its pursuit of nuclear technology.

Speaking in the southern city of Bushehr Wednesday, Mr. Ahmadinejad said Tehran is approaching the peak in its nuclear program. He did not elaborate.

Bushehr is the site of Iran's first nuclear power plant, which is being built by Russia. Russia also has supplied nuclear fuel for the plant, which Iran says will start operating by the middle of this year.

On Monday, the U.N. Security Council discussed a possible third set of sanctions against Iran for failing to halt its controversial uranium enrichment process, which could produce fuel for nuclear weapons.

Iran says there will be "serious consequences" if more sanctions are imposed on the country.

The Council's five permanent members, the United States, Britain, Russian, China and France, plus Germany have agreed on key elements of the sanctions resolution.

The United States says proposed elements include a travel ban on certain Iranian officials, export limits on some items and a freeze on Iranian assets.

The United States and many of its allies allege that Iran is using its nuclear program to secretly develop nuclear weapons.

Iran denies that charge and says it has the right to build nuclear power plants for civilian use.